L.A. Reid 'leaves Def Jam for X Factor USA'

L.A. Reid has reportedly announced that he is stepping down as chairman of Island Def Jam, amid speculation that he has won a judging role on X Factor USA.

The music executive issued a memo to staff this morning announcing that he was departing the company to focus on other projects, according to reports.

In the message, he told employees that he is "looking forward with much enthusiasm" to his future, but declined to elaborate on his plans and did not directly mention X Factor.

The music executive was rumored to have landed a judging role alongside Simon Cowell on the upcoming Fox competition earlier this week, although the network declined to confirm or deny the reports.

In a statement obtained by the BBC, the record label is reported to have said that Reid decided to step down from his position of chairman and CEO "in order to participate in the upcoming US premiere of the X Factor", however the release did not mention in what capacity he would apparently join the program.

The statement also thanked Reid for "his contributions over the last several years" and wished him luck in his "new career choice". Fox has yet to respond to the news.

Rumors surrounding the possible judging panel have been circulating for months, with Nicole Scherzinger, Rihanna and Cheryl Cole among the names linked to the roles. It is expected that an official announcement regarding the full panel will be made in the coming weeks.

Auditions for the show - which is open to performers from the age of 12 upwards - are scheduled to kick off in Los Angeles on March 27, before traveling to Miami, Newark, Seattle, Chicago and Dallas. The winner of the competition will receive a $5 million recording contract from Sony.